AIRINC (Associates for International Research, Inc.)

Data Points brings you the latest updates from our Housing, Goods & Services, and Tax departments. These highlights are based on our expert international surveys, which are conducted on location by our global data collection team.

AIRINC Housing Update: Below are select snapshots of rental markets around the world. These updates are taken from AIRINC's on-site surveys conducted during the first quarter of 2020. 

With the rapid spread of COVID-19 throughout the past few months, many locations throughout the world are experiencing shortages and/or price changes to many goods and services items. The unprecedented outbreak has led to shortages in many locations that do not regularly experience supply disruptions. Reasons for the shortages include exceptional demand for certain items such as disinfectants, medical products, and non-perishable staple foods, and disruptions to supply chains resulting from travel or operational restrictions.

Data Points brings you the latest updates from our Housing, Goods & Services, and Tax departments. These highlights are based on our expert international surveys, which are conducted on location by our global data collection team.

AIRINC is featured in the February edition of Mobility, a magazine that "examines the key issues affecting the global mobility workforce." This article appears on page 10, the "Tips and Trends" section, and is entitled Housing Markets on the Rise—and Not. 

Berlin rents increased over the past year. Demand is growing from new start-up companies and larger international companies establishing headquarters in Berlin. Construction of new rental units is underway but expected to take a few more years before appearing on the market.

For years, Venezuela’s currency (currently the VES, was VEF) was the only currency legal to use within the country. However, with hyperinflation and a rapidly depreciating currency, using the VES was often difficult. Although not technically legal, transactions would often still occur using U.S. dollars, as it is a stable currency.

Japanese consumption tax is an indirect tax on goods and services, similar to value-added or sales taxes. Tax increases in Japan are notoriously unpopular and changes to the consumption tax have faced long delays and political battles. On October 1, the general consumption tax rate in Japan was raised from 8% to 10%, with a secondary tax tier of 8% for food products meant to be consumed at home. This increase had been delayed multiple times since its initial implementation date in 2015. The last consumption tax increase, from 5% to 8% in 2014, had been the first in 17 years.

As of October 1, 2019, Costa Rica is implementing major tax reform. This began on July 1, 2019 and the changes implemented then included increased progressive tax rates on employment income, with the top marginal tax rate increasing from 15% to 25%. Costa Rica is changing the tax year, switching from a tax year beginning October 1st to a tax year beginning January 1st.

Rents are stabilizing in Dublin following a long period of inflation. Vacancy rates are still very low, and it can be difficult to find a one- to two-bedroom apartment in the city. There are a number of new developments, but progress is slow. Some companies buy blocks of buildings to renovate for employees, which decreases overall rental stock.